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January 19, 2018 

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WEALTH PYRAMID: A handy technique that many get-rich-quick schemes use to transfer a little wealth from a lot of people into the overflowing pockets of a few. In works in this manner--A person or business establishes a multi-level pyramid of investors, employees, or "distributors." Each level is responsible for recruiting the next level beneath it. The trick is that each distributor at one level recruits several distributors into the next lower level in an ever-expanding fashion. Each recruit transfers a little, teeny, tiny bit of their own wealth to the next higher level. In that each higher level has fewer members, that little, teeny, tiny bit of wealth accumulates rapidly, making those at the top incredibly well-off.

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Lesson 13: Aggregate Demand | Unit 4: Determinants Page: 19 of 22

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  • The nature of economic instability coming from the four basic sectors.
  • The nature of aggregate demand determinants as ceteris paribus factors that are initially assumed constant and aren't measured explicitly on our AD graph.
  • How an increase (or decrease) in aggregate demand is represented as a shift to the right (or left) and how this increase (or decrease) represents an increase (or decrease) in aggregate expenditures over a range of price levels.

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U-SHAPED COST CURVES

The family of short-run cost curves consisting of average total cost, average variable cost, and marginal cost, all of which have U-shapes. Each is U-shaped because it begins with relatively high but falling cost for small quantities of output, reaches a minimum value, then has rising cost at large quantities of output. Although the average fixed cost curve is not U-shaped, it is occasionally included with the other three just for sake of completeness.

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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for poorly written technical manuals.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"You are never given a dream without also being given the power to make it true."

-- Richard Bach, Author

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